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House prices back on the rise: average UK home now a record £200,280

Tom Knowles

July 8 2015, 12:12pm, The Times

London house prices have risen by an average of 45 per cent since 2010PA

House prices experienced their biggest rise in nearly a year last month, according to Halifax. A shortage of available homes continues to put pressure on the market and the general election removed any uncertainty.

The latest index from the Halifax showed that prices rose 1.7 per cent between May and June, pushing the average cost of a UK home above £200,000 for the first time.

The month-on-month rise has sent prices up 9.6 per cent over the year, the highest level since September 2014. However, the stock of homes available for sale has fallen to a record low, according to the mortgage lender.

“Supply remains very tight with the stock of homes available currently at record low levels”, said Martin Ellis, housing economist for Halifax.